Vietnam

A young ethnic woman from the Central Highlands province of Dak Lak took home the crown of Miss Universe Vietnam 2017 on Saturday evening after a sweeping performance in the grand finale. Forty-two contestants from across Vietnam shone their brightest in the final night of Miss Universe Vietnam 2017, held in the resort city of Nha Trang in south-central Khanh Hoa Province. H’Hen Nie, a 25-year-old contestant of ethnic E De descent, took home the VND2.7 billion (US$119,000) crown of the competition together with a cash prize of VND200 million ($8,800). The Ho Chi Minh City-based freelance model is dubbed ‘the black pearl’ of Vietnam thanks to her vigorous brown complexion, athletic shape, short hair and powerful strutting skills. Professional models Hoang Thi Thuy and Mau Thi Thanh Thuy became the pageant’s first and second runner-up, respectively. Hoang Thi Thuy was the champion of the 2011 cycle of Vietnam’s Next Top Model, a modeling reality … [Read more...] about ​Ethnic beauty crowned Miss Universe Vietnam 2017

Vietnamese Prime Minister Nguyen Xuan Phuc has finally approved for a major resort in the central tourist town of Hue to build a casino. Phuc said at a meeting with provincial authorities in Thua Thien-Hue on Tuesday that he “agreed in principle” with the proposal to add a casino business to Laguna Lang Co, the Vietnam Investment Review reported. He allowed the resort to increase its investment from $875 million to $2 billion, the capital required for casino developers in Vietnam. The 280-hectare resort is run by Singapore’s Banyan Tree Holdings, a leader in hotels, resorts, and luxury apartments in the Asia-Pacific region. It was opened in March 2013 near Lang Co, one of the world’s most beautiful bays. A source from Banyan Tree said that once it receives an official license, the company will work with its U.S. partner to build a detailed plan, according to the report. The company earlier said it planned to launch the casino in 2021 with … [Read more...] about Singapore investor strikes it lucky to develop casino near Vietnam’s former capital

Vietnam's central bank has been instructed to compile a legal framework to control Bitcoin and other cryptocurrencies that are not currently recognized by Vietnamese law. The government office issued the directive this week asking the Ministry of Justice and the State Bank of Vietnam to propose guidelines to help control cryptocurrencies in Vietnam. The central bank said last October that the act of issuing, supplying or using illegal means of payment starting from 2018 may be subject to prosecution for violating regulations concerning the operation of credit organizations, a crime that carries up to 20 years in jail under Vietnam’s Penal Code. However, the threat has not scared some businesses who consider it the new age of currency. Several restaurants and coffee shops in Saigon, Vietnam’s commercial center, are already accepting Bitcoin payments, and the central bank said last month that they will be punished for breaking regulations. The bank has warned organizations … [Read more...] about Trying to control the ‘uncontrollable’: Vietnam pushes for Bitcoin legal framework

Vietnam’s economy has the potential to thrive this year with more foreign direct investment (FDI) and export revenue, but low productivity remains a concern, economists said. Last month, the Asian Development Bank (ADB) lifted its economic growth forecast for Vietnam to 6.7 percent in 2018 from its previous projections of 6.3 to 6.5 percent. The World Bank gave a more conservative forecast of 6.5 percent. After a 10-year high GDP growth of 6.81 percent in 2017, the government expects the economy to expand 6.5-6.7 percent this year. Being an export oriented economy, Vietnam's somewhat surprisingly fast growth last year owed a lot to the recovering global economy, which expanded 3 percent in 2017, the highest rate since 2011. This trend will continue, said economist Vo Tri Thanh. Vietnam’s export revenue expanded by 21 percent last year against 2016 to $213.7 billion, the highest in the past five years. Following what Prime Minister Nguyen Xuan Phuc called a … [Read more...] about Economists predict bright outlook for Vietnam in 2018

Vietnam’s Ministry of Transport has proposed a series of conditions to tighten the management of Uber and Grab in the country.The transport ministry has submitted a draft decree to the central government, which is expected to replace the current Decree No. 86/2014/ND-CP on the conditions for the auto transportation business.According to Minister of Transport Nguyen Van The, the provisional decree highlights the addition of new requirements for the operations of passenger transport businesses via digital contracts and software, namely Uber, Grab, and similar services.The proposed regulations are aimed at striking a balance with the conditions that have been applied to local taxi companies, Minister The continued.The transport ministry previously collected feedback from taxi firms and transport associations before finalizing the decree, the official added.Pursuant to the tentative legislation, businesses such as Uber and Grab would have to get legitimate licenses and … [Read more...] about ​Draft decree highlights conditions for operations of Grab, Uber in Vietnam